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US crude oil exports to Asia are set to hit multi-year lows after the Iran war disrupted global shipping and pushed the cost to lease a tanker for the Pacific journey to a record of almost $80 million.
The US and China are racing to secure concrete investment deals ahead of their leaders’ meeting in Shenzhen next month, even as both sides engage in a contest over leverage in extending their broad trade agreement. Multiple sources told the South China Morning Post that intense negotiations would continue in coming weeks, with Washington and Beijing still facing hurdles to finalising a complex package of institutional frameworks and economic agreements. The sources, who spoke on condition of...
US Republican Senator Steve Daines, a close aide to President Donald Trump and a key interlocutor between Washington and Beijing, has called on the two capitals to stay engaged and “not retreat” over differences on issues including rare earth supply chains. Daines told the South China Morning Post that both sides still had issues that predated Chinese President Xi Jinping’s state visit to Washington last week and that they would continue working on them after the summit. “So that’s again why...
United States Trade Representative Jamieson Greer said on Thursday that there is no timeline yet for implementing the US-China Board of Trade, one of the key economic outcomes of Chinese President Xi Jinping’s state visit to Washington last week. Speaking on the sidelines of the Group of 20 Trade Ministers’ meeting in Milwaukee, Wisconsin, Greer said the tariff reductions under the mechanism were “a policy outcome” and that the recommendations would have to go through a legal process before...
For years, Chinese manufacturers have viewed Southeast Asia as a way to reduce exposure to higher US duties on goods made in China. But a new round of tariff cuts proposed by Washington and Beijing could weaken that incentive for some products, potentially changing the economics of the strategy. Under the new US-China Board of Trade, more than 90 per cent of Chinese products on a list of goods worth US$30 billion – mostly everyday consumer items, such as toys and household goods – would return...
The two-month extension of the US-China trade truce remains fragile despite last week’s summit between Presidents Donald Trump and Xi Jinping, with modest economic concessions leaving deeper disputes unresolved, Asia Society Policy Institute analysts said on Tuesday. “In my view, this truce is very fragile,” said Wendy Cutler, an Asia Society Policy Institute vice-president and former acting deputy US trade representative. “I think they’re testing each other.” Xi’s three-day state visit to...
"The Pulse With Francine Lacqua" is all about conversations with high profile guests in the beating heart of global business, economics, finance and politics. Based in London, we go wherever the story is, bringing you exclusive interviews and market-moving scoops. Today's guests: Seema Shah, Principal Asset Management Chief Global Strategist; Robin Niblett, Chatham House Distinguished Fellow; Wes Streeting, UK Defence Secretary; Chris O'Shea, Centrica CEO (Source: Bloomberg)